Housing Affairs Letter

Housing Market

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Increasing Housing Costs Decried

Housing affordability is increasingly cited among local government leaders as a barrier to economic development according to key findings on housing affordability unveiled by ICMA, the International City/County Management Association.

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Rental Housing Nation’s New Crisis

The study shows there are now 9 million more renters than existed only 10 years ago. It is the biggest increase on record, the study says, adding they are also paying more for rent than ever before.

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Foreclosures Leap, HAMP Rates Up

Foreclosure starts increase 12% in October, the largest month-over-month jump since August 2011 with 48,605 properties entering the foreclosure process for the first time according to RealtyTrac’s Foreclosure Market Report for October.

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Airbnb In New York Regulatory Dustup

Travelers increasingly rely on Airbnb for short-term rentals, particularly where such rentals are at a premium. But the firm, which originated as Air Bed ‘N Breakfast, is under increasing criticism from apartment tenants who claim they’re being forced out to make room for short-term

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Market Pivots On Lower Rates

Housing economists remain cautious as the market pivots again, rising from the doldrums as mortgage interest rates fall and lending restrictions begin to ease. The surprise rate decline prompts prospective homebuyers to emerge from their wariness to take advantage of the drop to near all-time lows. And

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Tight Lending Continuing Sales Damper

Thousands of new-home sales have been lost as a result of pervasive tight lending restrictions, the National Association of Home Builders says in a new survey illustrating the difficulty facing the housing market recovery from the 2008 collapse.

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Housing Market Continues Slide

A promising 2014 for a surge in home building and home sales in spite of a disastrous weather-ravaged winter/spring season is now taking a turn for the worst with mortgage purchase applications continuing to plunge and home-contract signings in near freefall.

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Beige Book: Housing Market Divided

The latest report of real estate activity mirrors the Fed’s July report showing mixed activity, depressed housing inventories, and increasing home prices.

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Market Upswing After Winter Malaise

A dramatic increase in housing starts coupled with a hike in building permits and builder confidence numbers provide positive signs that the overall housing market is on a continued upswing however slowly and despite occasional glitches.

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Housing Recovery Plods Along

A continuing lag in the country’s economic revival complicated by tight credit provides a dismal backdrop for the housing market. But the latest housing scorecard compiled by HUD and the Treasury Department shows continued progress in key housing indicators.

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